ROCKWOOD ALERT: Proposed Sale of Rockwood Holdings, Inc. Being Investigated by Shareholder Rights Law Firm Johnson & Weaver, LLP
SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Rockwood Holdings, Inc. (NYSE: ROC) breached their fiduciary duties in connection with the proposed $6.2 billion sale of the company to Albemarle Corporation.
Rockwood develops, manufactures, and markets various specialty chemicals for industrial and commercial applications.
On July 15, 2014, Rockwood and Albemarle entered into an agreement whereby Albemarle will acquire Rockwood. Under the terms of the transaction, each outstanding share of Rockwood common stock will be exchanged for $50.65 in cash and 0.4803 of a share of Albemarle common stock. The transaction values Rockwood at $85.53 per share based on yesterday's closing stock prices.
The investigation concerns whether Rockwood’s board failed to satisfy their duties to the company’s shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for the Company’s shares of common stock. One analyst has issued a price target for Rockwood stock at $93.00 per share.
If you are a shareholder of Rockwood and believe the proposed buyout price is too low and you’re interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (firstname.lastname@example.org) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.